A experiência internacional de regimes de metas de inflação: uma análise com painel dinâmico [International experience in inflation targeting regimes: an analysis with a dynamic panel]
Marcos Rocha and
José Luís Oreiro ()
Nova Economia, 2008, vol. 18, issue 2, 267-291
This paper uses a growth model with dynamic panel techniques in order to investigate how (and if) the institutional architecture of inflation targeting regimes affects the growth performance of the countries that adopt this kind of monetary policy. The sample used to build the panel consists of 23 countries that officially adopted the inflation targeting regime. The Arellano and Bond (1991) methodology is used to estimate the parameters of the dynamic growth model. The results support the view that the adoption of headline inflation indices, since it is a index of strong credibility; the definition of a convergence horizon for target inflation larger than a year; and the capability of central banks to achieve the target inflation have positive and important effects over growth performance of selected countries.
Keywords: dynamic panels; inflation targeting; monetary policies (search for similar items in EconPapers)
JEL-codes: C23 F31 F33 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://www.scielo.br/scielo.php?script=sci_pdf&pid ... g=pt&nrm=iso&tlng=pt (application/pdf)
http://www.scielo.br/scielo.php?script=sci_arttext ... g=pt&nrm=iso&tlng=pt (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:nov:artigo:v:18:y:2008:i:2:p:267-291
Ordering information: This journal article can be ordered from
Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil
https://revistas.fac ... dex.php/novaeconomia
Access Statistics for this article
Nova Economia is currently edited by Gustavo de Britto Rocha
More articles in Nova Economia from Economics Department, Universidade Federal de Minas Gerais (Brazil) Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil. Contact information at EDIRC.
Bibliographic data for series maintained by Lucas Resende de Carvalho ().